SEC 13F Intelligence

Managers / Q3 2025 · view latest →

CLIFFORD SWAN INVESTMENT COUNSEL LLC

CIK 0001034642 · 177 E. COLORADO BLVD, SUITE 550, PASADENA, CA, 91105 · 6267922228

Reported Value
$3.0B
Q3 2025
Positions
390
Filings on Record
30
2019–present window
Filed
Nov 12, 2025
original filing

Summary

Clifford Swan Investment Counsel LLC reported $3.0B in U.S.-listed holdings across 390 positions for Q3 2025.

Its largest position, AAPL, represents 5.7% of the portfolio.

Compared with Q2 2025, the fund opened 15 new positions and exited 6.

Portfolio Metrics

Turnover
+3.5%
vs prior filed quarter
Top-10 Concentration
+31.7%
share of reported value
Largest Position
+5.7%
Apple
New / Exited
15 / 6
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.6BQ4 ’18Q1 ’19: $1.9BQ2 ’19: $1.9BQ3 ’19: $1.9BQ4 ’19: $2.1BQ4 ’19Q1 ’20: $1.6BQ2 ’20: $1.9BQ3 ’20: $2.1BQ4 ’20: $2.3BQ4 ’20Q1 ’21: $2.4BQ2 ’21: $2.6BQ3 ’21: $2.7BQ4 ’21: $2.9BQ4 ’21Q1 ’22: $2.7BQ2 ’22: $2.3BQ3 ’22: $2.1BQ4 ’22: $2.3BQ4 ’22Q1 ’23: $2.4BQ2 ’23: $2.5BQ3 ’23: $2.4BQ4 ’23: $2.6BQ4 ’23Q1 ’24: $2.7BQ2 ’24: $2.7BQ3 ’24: $2.8BQ4 ’24: $2.8BQ4 ’24Q1 ’25: $2.7BQ2 ’25: $2.8BQ3 ’25: $3.0BQ4 ’25: $3.0BQ4 ’25Q1 ’26: $2.9Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 89.6%ETP: 5.1%Other: 3.5%ADR: 1.2%REIT: 0.5%Other: 0.1%
  • Common Stock · 89.6% · $2.7B
  • ETP · 5.1% · $153M
  • Other · 3.5% · $105M
  • ADR · 1.2% · $37M
  • REIT · 0.5% · $14M
  • Other · 0.1% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ZTSZOETIS INCNEW+23.6K23.6K+$3M$3M
GLOBAL X FDSNEW+14.7K14.7K+$1M$1M
VANGUARD INSTL INDEX FDNEW+10.4K10.4K+$786,396$786,396
SPROTT ETF TRUSTNEW+11.0K11.0K+$683,860$683,860
ETHAISHARES ETHEREUM TRNEW+11.8K11.8K+$370,747$370,747
RDVYFIRST TR EXCHANGE TRADED FDNEW+4.0K4.0K+$269,242$269,242
SCHWAB STRATEGIC TRNEW+10.4K10.4K+$242,717$242,717
ICON PLCNEW+1.4K1.4K+$238,000$238,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM5.74%$172M677.0K
2MSFTMICROSOFT CORPhistory →COM5.26%$158M305.0K
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C4.69%$141M579.7K
4COSTCOSTCO WHSL CORP NEWhistory →COM3.13%$94M101.6K
5BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW2.79%$84M166.5K
6UPSUNITED PARCEL SERVICE INChistory →CL B2.68%$81M965.7K
7ANETARISTA NETWORKS INChistory →COM SHS2.67%$80M549.7K
8ORCLORACLE CORPhistory →COM2.39%$72M255.7K
9JPMJPMORGAN CHASE & CO.history →COM1.94%$58M185.0K
10LOWLOWES COS INChistory →COM1.66%$50M199.0K
11CHVCHEVRON CORP NEWhistory →COM1.64%$49M317.7K
12ACCENTURE PLC IRELANDSHS CLASS A1.48%$45M180.5K
13FASTFASTENAL COhistory →COM1.37%$41M840.7K
14JNJJOHNSON & JOHNSONhistory →COM1.35%$40M218.0K
15AXPAMERICAN EXPRESS COhistory →COM1.32%$40M119.4K
16AMZNAMAZON COM INChistory →COM1.32%$40M180.0K
17UNHUNITEDHEALTH GROUP INChistory →COM1.29%$39M111.9K
18WFCWELLS FARGO CO NEWhistory →COM1.27%$38M454.3K
19TSCOTRACTOR SUPPLY COhistory →COM1.24%$37M654.0K
20RTXRTX CORPORATIONhistory →COM1.21%$36M216.8K
21ABBVABBVIE INChistory →COM1.17%$35M152.0K
22CTVACORTEVA INChistory →COM1.13%$34M503.0K
23EXMOCEXXON MOBIL CORPhistory →COM1.13%$34M301.7K
24EMREMERSON ELEC COhistory →COM1.12%$34M256.4K
25JOHNSON CTLS INTL PLCSHS1.07%$32M293.4K
26SYKSTRYKER CORPORATIONhistory →COM0.99%$30M80.3K
27INTUINTUIThistory →COM0.98%$30M43.2K
28MCKMCKESSON CORPhistory →COM0.96%$29M37.5K
29ALSNALLISON TRANSMISSION HLDGS Ihistory →COM0.95%$29M336.8K
30LHLABCORP HOLDINGS INChistory →COM SHS0.95%$29M99.5K
31ABTABBOTT LABShistory →COM0.93%$28M208.0K
32QCOMQUALCOMM INChistory →COM0.92%$28M166.9K
33GQ9SPDR GOLD TRhistory →GOLD SHS0.89%$27M74.9K
34CSCOCISCO SYS INChistory →COM0.85%$25M372.5K
35MCDMCDONALDS CORPhistory →COM0.80%$24M78.9K
36BKNGBOOKING HOLDINGS INChistory →COM0.79%$24M4.4K
37PGPROCTER AND GAMBLE COhistory →COM0.76%$23M149.1K
38METAMETA PLATFORMS INChistory →CL A0.76%$23M31.1K
39SYYSYSCO CORPhistory →COM0.71%$21M258.6K
40PEPPEPSICO INChistory →COM0.68%$20M144.9K
41PHPARKER-HANNIFIN CORPhistory →COM0.67%$20M26.7K
42EWEDWARDS LIFESCIENCES CORPhistory →COM0.66%$20M253.3K
437HPHP INChistory →COM0.65%$19M715.4K
44AG8AGILENT TECHNOLOGIES INChistory →COM0.61%$18M143.7K
45MDLZMONDELEZ INTL INChistory →CL A0.60%$18M289.5K
46SLBSCHLUMBERGER LTDhistory →COM STK0.59%$18M519.4K
47CATCATERPILLAR INChistory →COM0.59%$18M37.3K
48NVONOVO-NORDISK A Shistory →ADR0.57%$17M311.2K
49ENQENTEGRIS INChistory →COM0.55%$17M180.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$2.9B401May 6, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.0B392Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.0B390Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.8B387Jul 30, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.7B384May 6, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.8B306Feb 5, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.8B338Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.7B321Aug 7, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.7B325Apr 17, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.6B313Feb 6, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.4B299Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.5B300Aug 4, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.4B295May 5, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.3B304Feb 3, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.1B308Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.3B317Aug 4, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.7B322May 3, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.9B338Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.7B329Nov 2, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.6B322Aug 5, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.4B322May 7, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.3B323Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.1B316Oct 30, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.9B309Aug 6, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.6B300Apr 9, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.1B320Jan 30, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.9B314Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.9B318Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.9B308May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.6B297Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.